Banks’ int’l business share rises in Q1

The proportion of international business in Macau’s local banking sector rose in the first quarter of 2023, the monetary watchdog said. According to statistics released by the Monetary Authority of Macao, the share of international assets in total banking assets increased to 85.6% at the end of March from 85.4% at the end of December 2022, while the share of international liabilities in total banking liabilities rose to 83.4% from 81.9%. Non-local currencies continued to be the dominant denomination in international banking transactions.